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Tax credits recipients to receive Cost of Living Payment from today

Around 840,000 families, who receive tax credits and no other qualifying benefits, will receive their £300 autumn Cost of Living Payment from today, to help with everyday costs.
HM Revenue and Customs (HMRC) is making the payments to eligible tax credits customers across the UK between 10 and 19 November 2023.
In addition, more than 7 million eligible UK households are receiving £300 directly from the Department for Work and Pensions (DWP) between 31 October and 19 November 2023.
This is the second of three payments totalling up to £900 for those eligible and on means-tested benefits, such as Universal Credit, Pension Credit, or tax credits, in 2023 to 2024.
Chief Secretary to the Treasury, John Glen, said:
“I know Christmas can be a difficult time, which is why this £300 payment will come as a welcome boost for hundreds of thousands of families. But the best help we can give is halving inflation this year.”
Angela MacDonald, HMRC’s Deputy Chief Executive and Second Permanent Secretary, said:
“The £300 Cost of Living Payment will deliver further financial support to eligible tax credits customers across the UK. Another payment will be made by spring 2024 to those entitled to receive it.
“HMRC customers will receive the payment automatically, with no action required from them, to make this as simple as possible.”
The payment from HMRC to tax credits customers will appear on bank statements as ‘HMRC COLS’, referencing Cost of Living Support. Those receiving the payment from DWP will see the payment reference as their National Insurance number followed by ‘DWP COL’.
If customers have not received the Cost of Living Payment from HMRC between the published payment dates, but believe they are eligible, they should wait until after 20 November to contact us. This is to allow time for their bank, building society or credit union to process the payment.
Receiving a previous Cost of Living Payment does not guarantee customers will get a future one. Customers must meet the individual eligibility criteria for each payment, as published on GOV.UK <

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